NIS’s operating license extended for 60 days

The US Treasury Department’s Office of Foreign Assets Control (OFAC) has extended the operating license of Naftna industrija Srbije (NIS) for 60 days, until June 16, said Minister of Mining and Energy Dubravka Djedovic Handanovic.

According to her, the Ministry of Mining and Energy received good news from the US that the operating license of NIS has been extended for 60 days, which is very important for more stable planning of crude oil purchases, safe operation of the refinery in Pancevo and reliable supply of petroleum products in the country.

Djedovic Handanovic emphasized that the extension represented a positive signal of progress in the negotiations on the change of ownership between the Hungarian MOL and the Russian Gazpromneft, and that it was most important for Serbia that NIS continued its stable operations, preserved jobs and contributed to Serbia’s energy security.

The minister added that the primary goal for the state was to permanently remove NIS from the US sanctions list so that the company could realize long-term purchases of crude oil, while the second goal was to increase Serbia’s ownership stake by five percent, which would give it greater control over management and influence in the company.

Djedovic Handanovic announced that MOL’s top management would be in Belgrade on Saturday, April 18, and the operational teams from Tuesday, April 21, to discuss all the details, and added that the public would be informed about every significant step in the coming days and weeks.

Ministarstvo rudarstva i energetike Republike Srbije

NIS a.d. Novi Sad

MOL Serbia d.o.o. Beograd

MOL Hungarian Oil and Gas Budapest

Ministry of Mining and Energy

Naftna industrija Srbije

MOL

Dubravka Đedović Handanović

license